B $\to \pi \pi$, New Physics in B $\to \pi$K and Implications for Rare K and B Decays

The measured B -> pi pi, pi K branching ratios exhibit puzzling patterns. We point out that the B -> pi pi hierarchy can be nicely accommodated in the Standard Model (SM) through non-factorizable hadronic interference effects, whereas the B -> pi K system may indicate new physics (NP) in the electroweak (EW) penguin sector. Using the B -> pi pi data and the SU(3) flavour symmetry, we may fix the hadronic B -> pi K parameters, which allows us to show that any currently observed feature of the B -> pi K system can be easily explained through enhanced EW penguins with a large CP-violating NP phase. Restricting ourselves to a specific scenario, where NP enters only through Z^0 penguins, we derive links to rare K and B decays, where an enhancement of the K_L-> pi^0 nu nu_bar rate by one order of magnitude, with BR(K_L -> pi^0 nu nu_bar) > BR(K^+ -> pi^+ nu nu_bar), BR(K_L -> pi^0 e^+ e^-)=O(10^{-10}), (\sin2\beta)_{pi nu nu_bar}<0, and a large forward-backward CP asymmetry in B_d -> K* mu^+ mu^-, are the most spectacular effects. We address also other rare K and B decays, epsilon'/epsilon and B_d -> phi K_S.